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| May 22, 2018

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L.A. Times suspends Beijing bureau chief while it investigates sexual misconduct allegation

May 16, 2018 |

The Los Angeles Times suspended Beijing Bureau Chief Jonathan Kaiman on Tuesday and has launched an investigation into an allegation of sexual misconduct.

On Monday, former Beijing-based journalist Felicia Sonmez sent a letter to the Foreign Correspondents’ Club of China detailing “problematic…


L.A. Times – Business

Arizona Governor Suspends Uber’s Self-Driving Cars From Roads

March 27, 2018 |

Arizona Gov. Doug Ducey ordered Uber to suspend testing autonomous vehicles on public roadways in the state, a blow to the company’s development efforts after one of its self-driving cars struck and killed a pedestrian in Tempe.
WSJ.com: US Business

Arizona Suspends Uber Self-Driving Program

March 27, 2018 |

Uber voluntarily pulled its self-driving cars from Arizona roads after a fatal accident earlier this month but when—or if—they return will be up to the state. Gov. Doug Ducey ordered the suspension of the company’s self-driving car test program Monday, accusing Uber of not putting public safety first,…
Newser

Cambridge Analytica Suspends CEO After Comments About Trump

March 20, 2018 |

The board of Cambridge Analytica, the company that allegedly used data mined from Facebook to help Donald Trump win the 2016 presidential election, says it has suspended CEO Alexander Nix pending a full independent investigation of his actions, the AP reports. The board cited comments Nix made to an undercover…
Newser

Uber Suspends Driverless-Car Program After Pedestrian Death

March 20, 2018 |

An Uber self-driving car struck and killed a pedestrian in Arizona in the first known fatality involving an autonomous vehicle, an accident that could stir regulators to action and damage the public perception of the young industry.
WSJ.com: US Business

Facebook suspends Trump election data firm that accessed millions of user profiles

March 17, 2018 |

Facebook Inc. has suspended Cambridge Analytica, a data company that helped Donald Trump win the presidential election, for receiving and failing to delete as many as 50 million Facebook profiles without their owners’ permission.

Facebook said in a blog post Friday that Cambridge Analytica received…


L.A. Times – Business

Brazilian Securities and Exchange Commission Suspends Mining Scheme

March 7, 2018 |

Brazilian Securities and Exchange Commission Suspends Mining Scheme

Brazil’s Securities and Exchange Commission (CVM) recently suspended the operations of mining investment scheme, Hashbrasil. The CVM has accused the company of violating securities laws by conducting an unregistered public offering.

Also Read: Chinese Altcoins Can’t Stop Failing

Hashbrasil Suspends Operations After Warning From Brazilian Securities and Exchange Commission

Brazilian Securities and Exchange Commission Suspends Mining SchemeThe Brazilian Securities and Exchange Commission has suspended solicitations from mining investment scheme, Hashbrasil – accusing the company of violating securities regulations.

Last week, the CVM released a statement asserting that Hashbrasil and the company’s operator, Mr. Leonardo Janiszevski, were “publicly offering […] an investment opportunity related to quotas in [a] Bitcoin mining investment group, using [an] appeal to the public for the conclusion of contracts that may be included in the legal concept of [a] security.”

As such, the Brazilian Securities and Exchange Commission has mandated the “immediate suspension of any offer of securities or collective investment contracts related to” Hashbrasil, stating that the company conducted “a public offering without registration,” and that Mr. Janiszevski is “not authorized to engage in any activities on the securities market.”

Brazilian Securities Watchdog Targeting Cryptocurrency Sector

Brazilian Securities and Exchange Commission Suspends Mining SchemeOn March 1st, the day after the publication of the CVM’s determinations, Hashbrasil posted on Facebook stating that the company had temporarily suspended operations in response to the regulator’s comments. According to a rough translation, the company’s website currently states “Due to CVM Resolution 790 […] Hashbrasil suspends the offer of new VPS hirings for data processing temporarily,” however it adds that “The VPSs of our current customers are in full operation, and our support as well.”

The Brazilian Securities and Exchange Commission has recently demonstrated an increasing willingness take regulatory action targeting the cryptocurrency industry. In January, the securities regulator announced that local investment funds are prohibited from purchasing cryptocurrencies – owing to a CVM determination that cryptocurrencies are not legally considered to comprise financial assets.

The CVM threatened that should Hashbrasil continue to operate in defiance of the regulator’s determinations, Mr. Janiszevski will incur a daily fine of $ 5,000 BRL (approximately $ 1550 USD).

What do you think of the Brazilian Securities and Exchange Commission’s recent determinations with regards to the cryptocurrency sector? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, cvm.gov.br


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The post Brazilian Securities and Exchange Commission Suspends Mining Scheme appeared first on Bitcoin News.

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CNN

Haiti suspends Oxfam operations over sexual misconduct scandal

February 22, 2018 |

Haiti has suspended the international poverty charity Oxfam Great Britain from operating in the country after reports of sexual misconduct by some of its employees.
CNN.com – RSS Channel – Regions – Americas

SEC Suspends Trading of Three Companies With Ties to Cryptocurrency

February 17, 2018 |

SEC Suspends Trading of Three Companies With Ties to Cryptocurrency

The U.S. Securities and Exchange Commission (SEC) has suspended trading in the stocks of three companies with ties to cryptocurrency. One of the three is also planning an initial coin offering. The SEC says it is concerned about the nature of the companies’ business operations and the value of their assets.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

SEC Suspends Trading of Three Stocks

The SEC has “suspended trading in three companies amid questions surrounding similar statements they made about the acquisition of cryptocurrency and blockchain technology-related assets,” the agency announced on Thursday. They are Cherubim Interests, PDX Partners, and Victura Construction Group. The three stocks are traded over-the-counter, with a market capitalization of less than $ 5 million each, according to Factset. The suspension is temporary, beginning on February 16 and ending on March 2.

SEC Suspends Trading of Three Companies With Ties to CryptocurrencyThe agency stated that the three companies issued press releases claiming that they have “acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.” However, the SEC says there are questions regarding the nature of the companies’ business operations and the value of their assets.

In addition, Cherubim Interests also announced that it will launch an initial coin offering (ICO). The trading suspension of this company’s shares is also due to its delinquency in filing annual and quarterly reports with the Commission.

Acquisitions and ICO

The three companies’ press releases list the same chief executive officer, Patrick J. Johnson, “who played for the Oregon Ducks and the Baltimore Ravens in the NFL,” wrote the Oregonian.

SEC Suspends Trading of Three Companies With Ties to CryptocurrencyJohnson told the publication that PDX Partners makes iPhone apps, adding that last month the company “acquired $ 350 million in assets belonging to a private equity firm called NVC Fund Holding Trust, whose portfolio includes ‘cryptocurrency and business financial services’.”

Cherubim Interests and Victura Construction Group have also made similar acquisitions. Furthermore, the former announced on January 3 that it has “executed a financing commitment of $ 100,000,000 to launch [an] initial coin offering for The Self Sustaining Intentional Communities Coin (Symbol SJT),” adding that “The sale of the coins will generate the capital to create self-sustaining intentional communities across the US and across 57 nations.”

Regulators’ Warnings

In August of last year, the SEC issued an Investor Alert about public companies making ICO-related claims. “The SEC’s Office of Investor Education and Advocacy is warning investors about potential scams involving stock of companies claiming to be related to, or asserting they are engaging in, Initial Coin Offerings (or ICOs),” the agency wrote, adding that “Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams.”

The SEC’s action against the three companies come at the same time another US regulator, the Commodity Futures Trading Commission (CFTC), issued a warning about dump-and-pump schemes involving “thinly traded or new ‘alternative’ virtual currencies, digital coins or tokens.”

What do you think of the SEC’s action? Let us know in the comments section below.


Images courtesy of Shutterstock and SEC.


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The post SEC Suspends Trading of Three Companies With Ties to Cryptocurrency appeared first on Bitcoin News.

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